According to the data released by CISA (China Iron and Steel Association), Chinese registered steelmakers have contributed a daily crude steel output of 1.692 million tons in middle May of this year, decreasing by 0.4% from early May. Meanwhile, Chinese average daily crude steel output is estimated to stand at 2.0395 million tons in middle May, declining by 0.3% versus early May.
From the above data, we could see that that the domestic daily steel output is still hovering around 2 million metric tons. Under this circumstance, it is almost impossible for the domestic steel market to emerge quick rebound in the near future.